mm2 Asia placement deal with UOBKH lapses

Conditions were unmet by 31 March.

mm2 Asia’s placement agreement with UOB Kay Hian Private Limited has lapsed after conditions precedent were not met by the extended cut-off date of 31 March 2026.

The agreement related to a proposed placement of up to 1.875 billion new ordinary shares in the company.

mm2 Asia said the placement agreement has terminated and is of no further effect. It added that no party will be liable to the other, except for any antecedent breach and surviving provisions under the agreement.

The company said the lapse and termination are not expected to have a material adverse impact on consolidated net tangible assets per share and earnings per share for the financial year ending 31 March 2027.

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